Taxonomies of money laundering: an Iranian perspective

Imeny, Vahid Molla; Norton, Simon; Salehi, Mahdi; Moradi, Mahdi

doi:10.1108/jmlc-07-2020-0074

Cited by 7 publications

(1 citation statement)

References 45 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Schneider and Barone (2019) confirm the effectiveness of anti-money laundering regulations and state that these regulations have increased the cost of criminal organisations and consequently have been effective in reducing money laundering. Salehi et al (2019) and Molla Imeny et al (2020a, 2020b) examine the anti-money laundering structure of Iranian banks and state that Iranian banks have a proper anti-money laundering structure. But so far, the impact of intellectual and social capital on reducing money laundering and fraud in Iraq has not been studied.…”

Section: Introductionmentioning

confidence: 99%

The effect of social and intellectual capital on fraud and money laundering in Iraq

Salehi

Al-Msafir

Homayoun

et al. 2022

JMLC

Self Cite

View full text Add to dashboard Cite

Purpose This study aims to assess the relationship between intellectual and social capital and financial statement fraud and money laundering of Iraqi firms before and after the emergence of the Islamic State of Iraq and Syria (ISIS). In other words, this paper seeks to answer the question of “whether the intellectual and social capital can contribute favourably to fraud in financial statements and money laundering or not.” Design/methodology/approach For the study, the multivariate regression model is used for hypothesis testing. Research hypotheses have also been examined using a sample of 35 listed firms on the Iraqi Stock Exchange during 2012–2018, using the panel data technique-based multivariate regression pattern and fixed-effect model. Findings The results show a negative and significant relationship between social capital and intellectual capital, fraud in financial statements and money laundering. Besides, the results indicate a positive and significant effect of the interactive variable of ISIS on the relationship between social and intellectual capital and fraud in financial statements and money laundering. Originality/value Since this paper is the first study on such a topic in the emergent markets, it provides helpful information for the users, analysts and legal institutions about intellectual capital and social capital that contributes significantly to fraud and money laundering of business units. Moreover, the study results help the development of science and knowledge in this field and fill the existing gap in the literature.

show abstract

Section: Introductionmentioning

confidence: 99%

The effect of social and intellectual capital on fraud and money laundering in Iraq

Salehi

Al-Msafir

Homayoun

et al. 2022

JMLC

Self Cite

View full text Add to dashboard Cite

show abstract

Implementing Anti-money-laundering Goals: New Technologies or Coordination between Related Agencies?

Liu

Sam

Guan

et al. 2022

Journal of China Tourism Research

View full text Add to dashboard Cite

Suspicious activity reporting in emerging economies: the case of Iran

Imeny,

Norton,

Moradi

et al. 2024

JAEE

View full text Add to dashboard Cite

PurposeCountries with high levels of corruption can experience collusion between powerful elites and accountants to conceal, disguise and clean the proceeds of criminality. This study investigates the willingness of accountants to report evidence of money laundering in an emerging economy, Iran, notwithstanding potential personal and professional risks implicit in such due diligence. It evaluates the relevance of personal characteristics of accountants to the propensity to report, and the implications for policy makers in terms of audit team composition.Design/methodology/approachThe methodology is quantitative. Data was gathered by means of a suspicious activity scenario-based questionnaire administered to 1,128 of Certified Public Accountants in Iran, of which 281 responses were received. Four hypotheses were tested relating to the implications, if any, of gender, age, education and working experience for the propensity to report red flags indicative of money laundering.FindingsData revealed that accountants were generally more willing to report activity indicative of money laundering than was anticipated in an environment perceived to be characterised by professional and personal risks. Older accountants are more risk averse and more likely to report suspicious activity than younger counterparts who tend to disregard borderline indicators of money laundering. A significant red flag indicator of money laundering is a client's reluctance to provide information regarding controlling shareholders, debtors and creditors or to explain contrived and opaque corporate structures. Audit teams may be more effective when gender-balanced: female accountants tend to be more willing to report suspicious activity than male counterparts, reducing the risk of interference by powerful elites.Research limitations/implicationsThe time frame over which the research was conducted was a single year; if it had been conducted over several years it may have revealed more nuanced and evolving reporting behaviour. The study was limited to Iran: a cross-comparison with another emerging economy or economies may have revealed useful contrasts.Originality/valueThe study contributes to behavioural accounting research in emerging economies. Limited empirical data is available regarding the influence of personal characteristics of accountants on their willingness to report suspicious activity in corrupt environments where personal safety and professional security may be at risk from powerful elites. It evaluates the implications of these for suspicious activity reporting policy, and for improving the effectiveness of the scrutineering role of audit teams. An innovative questionnaire was designed which may be suitable for future comparable research in emerging economies.

show abstract

Taxonomies of money laundering: an Iranian perspective

Cited by 7 publications

References 45 publications

The effect of social and intellectual capital on fraud and money laundering in Iraq

The effect of social and intellectual capital on fraud and money laundering in Iraq

Implementing Anti-money-laundering Goals: New Technologies or Coordination between Related Agencies?

Suspicious activity reporting in emerging economies: the case of Iran

Contact Info

Product

Resources

About